NovaGold stock tumbles 20% as U.S. Army Corps starts fresh Donlin Gold review; financing clock ticks
NovaGold shares fell 20.5% to $8.73 Friday after the U.S. Army Corps of Engineers launched a new environmental review of the Donlin Gold mine. The drop comes as NovaGold prepares a $300 million share sale set to close Feb. 5. Director Elaine J. Dorward-King sold over 33,000 shares earlier in the week. The Corps’ review could alter, uphold, or revoke existing federal permits for Donlin.